<p>The <span class="key-term" data-definition="Defence Minister — Head of the Ministry of Defence, responsible for national security and defence policy (GS2: Polity)">Defence Minister</span> <strong>Rajnath Singh</strong> chaired the fifth meeting of the <span class="key-term" data-definition="Informal Group of Ministers (IGoM) — A ministerial forum convened to discuss strategic issues like energy security; not a formal cabinet body (GS2: Polity)">IGoM</span> on <strong>11 May 2026</strong> at Kartavya Bhawan‑2, New Delhi, to assess the impact of the escalating West Asia conflict on India’s energy landscape.</p>
<h3>Key Developments</h3>
<ul>
<li>India’s strategic petroleum stocks are adequate: <strong>60 days of crude oil reserves</strong>, <strong>60 days of natural gas</strong> and <strong>45 days of LPG</strong> rolling stock, ensuring uninterrupted supply.</li>
<li>Foreign exchange reserves stand at a robust <strong>$703 billion</strong>, allowing the country to meet domestic fuel demand despite global price volatility.</li>
<li>Petroleum prices have remained stable, while many countries face price hikes of 30‑70 %; oil marketing firms are absorbing losses of about <strong>₹1,000 crore per day</strong> and under‑recoveries of nearly <strong>₹2 lakh crore</strong> in Q1 2026.</li>
<li>The government urged citizens to adopt responsible fuel consumption—using public transport, car‑pooling, limiting foreign travel, promoting domestic tourism, and postponing non‑essential gold purchases for a year.</li>
<li>Prime Minister Narendra Modi’s appeal to farmers includes cutting chemical fertilizer use by 50 %, shifting to natural farming, and expanding solar‑powered irrigation pumps to cut diesel consumption.</li>
<li>Emphasis on faster expansion of <span class="key-term" data-definition="Renewable energy — Energy from sources that are naturally replenished, such as solar and wind, crucial for sustainable development (GS3: Economy, GS4: Ethics)">renewable energy</span>, diversification of fuel supplies, and safeguarding <span class="key-term" data-definition="Maritime trade routes — Sea lanes essential for international commerce; securing them is vital for energy imports (GS3: Economy, GS2: Polity)">maritime trade routes</span>.</li>
<li>Support to industry and MSMEs through the <span class="key-term" data-definition="Emergency Credit Line Guarantee Scheme 5.0 (ECLGS 5.0) — A government scheme providing guaranteed credit to MSMEs to ensure liquidity during crises (GS3: Economy)">Emergency Credit Line Guarantee Scheme 5.0</span> worth <strong>₹2.55 lakh crore</strong>.</li>
</ul>
<h3>Important Facts</h3>
<p>India’s energy security rests on three pillars: adequate stockpiles, strong <span class="key-term" data-definition="Foreign exchange reserves — Holdings of foreign currencies and gold by the RBI to manage external payments and maintain currency stability (GS3: Economy)">foreign exchange reserves</span>, and policy measures that curb demand spikes. Th
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